NEWS JUST IN: NNPC’s profit to increase to N674 billion in 2021
On Tuesday, Mele Kyari, Group Chief Executive Officer of Nigerian National Petroleum Company Limited, announced that the NNPC as a corporation increased its profit after tax from N287 billion in 2020 to N674 billion in 2021. This represents a significant increase from the previous year’s figure of N287 billion.
Kyari, who made this revelation during a press conference in Abuja, stated that the oil company’s Group Audited Financial Statement for the year ending December 31, 2021, which included the profit for the year 2021, was available to the public.
He stated, “In September 2021, Mr. President graciously allowed the release of the 2020 NNPC Group Audited Financial Statement. In this statement, NNPC recorded a profit after tax of N287 billion for the first time in its 44 years of existence.”
“In spite of the difficult operating environment we are facing, we are firm in our belief that NNPC has the potential to deliver improved value to its respected shareholders in a manner that is both sustainable and profitable.”
“Today I am happy to announce that the Board of NNPC Limited has approved 2021 audited financial statements, and NNPC has progressed to a new performance level, climbing higher by 134.8 per cent year-on-year profit growth, going from a profit of N287 billion in 2020 to a profit after tax of N674 billion in 2021.” “Today I am happy to announce that the Board of NNPC Limited has approved 2021 audited financial statements.”
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